Category: Latest Stories

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Latest StoriesResidential

Crisil: FY27 Housing Sales Growth to Slow to 4-6% Amid High Prices

NEW DELHI: Crisil Ratings predicts that residential real estate sales growth will moderate to 4–6% in FY27, following a robust post-pandemic surge, as rising property prices affect demand. After achieving a compound annual growth rate of 26% in sales value from FY22 to FY25, growth is projected to slow to 5-7% for FY26. Gautam Shahi, director at Crisil, remarked, “The ongoing rise in housing prices is likely to lead to stagnant demand growth of 0–2% in FY27, despite supply continuing to outpace demand.” Inventory levels are anticipated to increase to 3.2–3.4 years in FY27, compared to under three years in…

Latest StoriesResidential

Mumbai: Apply Today for 2,640 MHADA Flats; Draw on May 15

Representative Image MUMBAI: MHADA’s Mumbai Board has announced a lottery for the sale of 2,640 apartments in the city. The application process begins today, March 30, with the lottery draw scheduled for 11:00 AM on May 15. The apartments are located in several areas, including Kannamwar Nagar in Vikhroli, Patra Chawl in Goregaon, Old Magathane in Borivali, Gorai Borivali, Subhash Nagar in Chembur, Gandhi Nagar in Bandra, Pant Nagar in Ghatkopar, Girgaum, Wadala, Kopri in Powai, Mazgaon, Tunga in Powai, Lokmanya Nagar in Dadar, Pahadi Goregaon, and Antop Hill Wadala. Of the total flats, 145 are available for the Economically…

Latest StoriesRera

Haryana RERA Orders Refund with Interest in BPTP Park Terra

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has instructed BPTP Limited to refund ₹18.12 lakh along with 2% interest to a homebuyer of its Park Terra project in Sector 37D. This decision came after BPTP’s claim that the complaint was lodged too late was dismissed. The ruling, dated March 12, 2026, pertains to two complaints from Salaj Ahlawat, the allottee. As per the order, Ahlawat secured two units in 2012 and paid ₹18.12 lakh from a total of ₹88.77 lakh. The builder-buyer agreement, signed in December 2012, stipulated that possession was to be granted by December 29, 2016, a…

IndustryLatest Stories

Golden Growth Fund Buys Land in Gulmohar Park, South Delhi

Representative AI image NEW DELHI: The Golden Growth Fund (GGF), a Category II real estate-focused alternative investment fund, has secured a land parcel in South Delhi’s Gulmohar Park for a residential project with an expected revenue potential of approximately ₹100 crore. The project will be constructed on a 500 sq yd site, offering a total built-up area of around 20,000 sq ft, which will include four independent floors. Grovy India will oversee the development. This marks the fund’s third acquisition in South Delhi since its inception in September 2024, following investments in Anand Niketan and Neeti Bagh. The acquisition aligns…

InfrastructureLatest Stories

Pimpri Chinchwad: Developers Failing to Supply Water to Societies

PUNE: The Pimpri Chinchwad Municipal Corporation (PCMC) has announced strict measures against developers who fail to supply water to housing societies despite previously submitted commitments. Officials noted that in areas with insufficient municipal water supply, builders had guaranteed they would provide water to residents until the municipal infrastructure was fully operational. Unfortunately, many complaints have arisen indicating that these commitments have not been met. The issue was addressed during a meeting at the divisional commissioner’s office, which involved officials from PCMC, Pune Municipal Corporation (PMC), and PMRDA, in relation to a public interest litigation currently pending in the Bombay High…

InfrastructureLatest Stories

Prayagraj to Establish Project Unit for Efficient Urban Development

PRAYAGRAJ: The Prayagraj Development Authority (PDA) is preparing to set up a project management unit (PMU) tasked with developing structured and technically sound plans for the ongoing and future residential projects. This initiative aims to integrate essential infrastructure—such as sewer lines, roads, and drinking water pipelines—right from the planning stages. Following the successful models implemented in cities like Lucknow, Gorakhpur, Ayodhya, Agra, and Kanpur, the PMU will include professionals with strong backgrounds in civil engineering and urban planning. The authority plans to issue a tender to appoint the PMU for an initial one-year term, with the process expected to commence…

CommercialLatest Stories

Office Leasing Jumps 15% to 18.3M Sq Ft in Q1 2026: Colliers

NEW DELHI: Office leasing in India’s top seven cities surged 15% year-on-year to 18.3 million sq ft in Q1 2026, fueled by demand from technology companies, BFSI sectors, and global capability centers (GCCs), as reported by Colliers India. Bengaluru and Hyderabad combined accounted for nearly half of the total leasing this quarter, totaling about 8.7 million sq ft. Other key markets, including Mumbai, Delhi-NCR, Pune, and Chennai, saw a steady absorption of 2-3 million sq ft each of Grade A spaces. Arpit Mehrotra, Managing Director of Office Services in India for Colliers, remarked, “India’s office demand exhibits strong resilience, with…

Latest StoriesRegulatory

Mumbai Directors Arrested for ₹10 Crore NRI Fraud

MUMBAI: The Economic Offences Wing (EOW) has arrested two directors of a construction firm accused of defrauding an NRI of ₹10.5 crore. Vishal Shah and Sukhpreet Kalsi, partners at Ajanta Airawat Infrastructure LLP, have been remanded to judicial custody by a magistrate’s court. Rahul Gupta, the complainant, stated that he invested ₹1.5 crore in 2012 through his company into the accused’s firm, which acquired land in Bhandup for a similar amount. After retiring from the partnership in February 2016, Gupta claims he lent ₹6 crore to the company, which has yet to be repaid. A settlement agreement was made in…

Latest StoriesRegulatory

Lucknow extends civic office hours for tax deposits until March 31

LUCKNOW: The Lucknow Municipal Corporation has extended the operating hours of its zonal offices to facilitate the collection of commercial and house taxes before the financial year concludes. Officials announced that all zonal offices will be open from 10 AM to 6 PM on Sundays. On March 30 and 31, they will operate from 10 AM to 11 PM, with a special effort to recover pending house tax dues on these days. The civic body encourages taxpayers to settle their dues before March 31 to avoid incurring interest charges. Payments made after the deadline will attract a 12% interest fee…

Latest StoriesResidential

Housing Sales Fall 7% in Q1 2026 Amid Global Uncertainty

NEW DELHI: Housing sales in India’s top seven cities saw a sequential decline of 7% in the January-March quarter of 2026, influenced by global uncertainties. Nonetheless, demand remained robust year-on-year, according to Anarock Research. A total of 1,01,675 units valued at ₹1.51 lakh crore were sold in Q1 2026, compared to 1,08,970 units worth ₹1.60 lakh crore in the previous quarter. Year-on-year, sales increased by 9% from approximately 93,280 units sold in Q1 2025, while in value, sales dropped 5% quarter-on-quarter but climbed 6% year-on-year. Geopolitical tensions and rising input costs contributed to reduced buyer sentiment during this period, resulting…